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tv   Markets Now  FOX Business  December 2, 2013 11:00am-1:01pm EST

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will talk about what those issues are. and we have optional or, a good friend of ours show saying he is most worried about a bubble in u.s. stocks, stock market bubble. we have the amazon drone's, they did indeed take twitter by storm last night, we will get into it. and why are all looks the most searched item on google? dagen, thank goodness, has thoughts on that. that and more this hour of "markets now." don't give away those thoughts now. dagen: very disturbing man who lives in my building, doesn't seem to have a job, just smokes incessantly. and he wears uggs. which says i have no job.
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and football, we will talk some football, baby. connell: auburn, alabama. dagen: have to hate alabama. connell: all that coming up. the market, drones, you name it. dagen: can be discussed nicole petallides for this with what is moving today, nicole. nicole: eight straight gains. we are looking at the dow in particular, that has been up over 3%. 16,060, so it is down 26 points. the nasdaq and the ssp have up arrows barely squeezing out some gains at the moment. we got in some data which helped to trim the losses, but the trading range remains very narrow. in a 55 points, but wanted to take a look quickly at some names hitting 52-week highs.
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names you know including microsoft, nike and american express. nike the best performer of the three up about 60%, but as regards the holidays is fun to look at some of these movers and some making new highs. connell: the obama administration say it met its goal of a healthcare.gov work for the majority of users, but the problem is some of these insurance companies and states are looking for alternatives. dagen: it seems to work on the front end but not on the back end like getting your information to the insurance company will give you the insurance. more on this developing story. >> you got it. health insurance officials say that systems still have problems despite report from officials yesterday touting big improvements, hhs send the tech experts fixed 400 software bugs
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adding 12 huge servers to help handle the traffic last friday. with this is a website can handle 50,000 simultaneous users per hour were 800,000 users per day. they say the website is up and now more than 90% of the time compared 40% earlier in november. and all of this means the administration has met its goal of making the site work the vast majority of users. >> the bottom line, healthcare.gov on december 1 is night and day from where it was on now to be clear, they likely will be times even with this increase capacity increase capacity will not be sufficient to handle peak demands. >> health insurance companies in the system's ability to verify user identity and accurately transmit enrollment data to them the so-called 834 data is not
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functioning properly many, many customers still will not be able to enroll and get insurance. the president of america's health insurance plans said in a statement the significant back end issues must also be resolved to measure coverage can begin on january 1, 2014. the ongoing problems with processing enrollment files needs to be fixed. the "wall street journal" reports the problems have got some insurers that at least one state working on ways to bypass the federal system to enroll customers directly. dagen: thank you so much for that report in. lesbian former white house chief of staff. i know you are happy this is not on your shoulders. it is not funny, but we have less than a month left for people to sign up for insurance, many people have lost their
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insurance, they could be left without coverage, could the white house or is the white house shaking in its boots? >> first of all i hope they're paying attention to what is happening in the real world. this is not just about a website, but the public understanding what is happening. they don't know what to do. they are frustrated, and the white house has bigger problems than just does the website work. i'm glad it is working better than it was before. there is a lot that needs to be done, and i am worried they're going to put middle-class americans in a position where they're all confused as the deadline happens overnight. and then people will be troubled by it. where do i go, what do i do. they are not empathetic with the challenges of real americans and i want them to show some empathy and give a little more time for people to comply with this very
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confusing law. dagen: this is going to fall on the shoulders of those in the white house and the administration. i have people that left, right, in the middle, friends, people i know, acquaintances calling me on the phone, they have lost their insurance, they are trying to sign up, they can't, they don't know what to do. does the white house need to be communicating with them more directly, and what will they do for those people who are uninsured come january 2? >> that is the problem. i don't want the white house to be disconnected with what is happening in the marketplace. what is happening in the world. it is about lives being impacted, young men and women who wants to do the right thing but they don't know what to do and families losing insurance, businesses that don't know what it will mean for them down the road. this is bigger than this week or next week, it is a problem of
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confidence that don't think the president has done a lot to earn back the good word that he should be giving. do people still trust him? i don't think they do. that is a presence problems speaking with the truth has been addressed. dagen: they're kind of stuck because you can't go out and talk about something that isn't yet fixed. if you are a politician you don't want to highlight where there are still holes in the system, it is almost unattainable situation for them. >> usually wants to manage expectations. they did not manage expectations well. i don't think they tried to manage expectations in a limited way on this website right now, and maybe they are meeting expectations. if you compare to the private sector, it is woefully in inadequate. i'm talking about affectations of insurance.
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witty million americans go to get insurance, to the gets to keep the insurers they want to have when the president said it would be able to, can i keep their doctor when they were told they would be able to keep their doctor, and why does the deadline need to be when it is, why can't you extended? he has a lot on his plate. that goes with the job of being president. but be up front with the american people and let them know the challenges. try to help understand other people don't know what is happening. manage those expectations. dagen: thank you so much, i hope your holidays great. be well. connell: let's go to our guests now. he is most worried about a bubble in the u.s. stock market. joined from minneapolis with a senior portfolio manager overseeing 4 billion. and people do these interviews
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where people like me try to pin them down and say is there a bubble here, a bubble there? last time he was on talk real estate mentioned he was worried about san francisco, vegas, targets that have run up. he says the boom in the u.s. stock market makes me most worried. is it your area of expertise, the bond market or someplace else? >> he is write right to point oe exuberance in the equity market. we have seen that even in the bond market in terms of how to have been moving around this year. we have not seen a great rotation, per se out of bonds into stocks. resident rotation into bond sectors that are more correlated with the equity market's we have seen inflows into sectors like high-yield bank loans and corporate bonds and from interest-rate sensitive sectors. the risk that poses is investors are essentially taking out the traditional shock absorbers in their portfolio.
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connell: we always try to categorize the potential bubbles in one area of the financial market where in reality these things are intertwined. if something were to go wrong, maybe there is a trigger but probably affects all of the markets. how do you see this playing out, are you in the bubble bandwagon is such a thing exists, or is it getting overdone right now? >> it may be overdone. the fundamentals in the economy justify the equity and well. it is hard to correlate with the sluggish growth we continue to see. outside of that the asset purchases by the fed and aggressive monetary policy we have seen serves the purpose of inflating risk premiums and essentially causing them to tighten places they wouldn't otherwise be. i don't think that is just an equity or fixed income issue. all sectors will be affected if that begins to unwind.
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connell: one of the big stories no doubt it's going to be one type of federal reserve will generate yellen oversee and willie federal reserve as to this risk or take away from it. what is your view? >> from a market perspective it is all about expectations, and the expectations are already in the price of fed is going to taper. we think the fed essentially already tapered this summer, so if you look back to announcements when the fed announced aggressive asset purchases, interest rates began to rise after that announcement. we would not be surprised to see riverreverse happen as the fed announces tapering of quantitative easing in the next couple of meetings. connell: we will have bob shiller back and ask if there is a bubble. thank you for coming on. >> thank you. dagen: showing off the future of package delivery. drones.
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connell: will talk about that coming up. now fast food workers across the country set to protest over the minimum wage. we will talk about that big economic issue. dagen: and who are the biggest self getters? women or men? you know the answer already. take a look at oil as we go to break. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers
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connell: are you into this cyber monday? dagen: full online shopping. connell: we are going to look at some of the online retailers to see how stocks are doing. in reaction to the commentary. nicole: everybody gets online, there are so many deals day in and day out. we have to focus on these guys, ebay and up arrow.
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today is cyber monday, the famous day were everybody goes online to get the best deals. are you shopping right now? national retail federation predicting 131 million americans shopping online today, and that actually beats last year. over the shopping holiday weekend you didn't see the brick-and-mortar stores doing as well as anticipated on the contrary, it is all about shopping online. amazon hit a new high $399, but you can see overall the group is mixed. connell: let's pick up on amazon because a lot of buzz about that story after i'm 60 minutes. the record high earlier on cyber monday. but really the story on "60 minutes" last night, the ceo rolling out what he sees as the future of delivery. the unmanned drones fly around with whatever you ordered on
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amazon. taking packages to your doorstep using gps saying it is technology that is still years away. here it is. >> this think that lenin somebody's head walking around their neighborhood. don't why am i to this is around the corner. this is years of additional work. i am an optimist, not copy before 2015 because that is the earliest we could get the rules from the faa. my guess is that is optimistic. connell: the other thing they talk about was the cloud computing amazon is investing so much in. even the cia. but as i said earlier, twitter was buzzing like crazy as he and she was going on. a lot of people, commercial for amazon, not exactly hard-hitting, but it is cool the matter how you at it. dagen: their use now, do aerial
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vision of properties. the uses are potentially limitless and aren't we happy there is a visionary or many visionaries who still live and work? connell: did a story using a lot of these drones to transport medicine in those type of things to places it is hard to get. this is kind of cool the ad dagen: i love rich men with big brains. connell: thank you very much. it is just a money issue. with all the deals and bargains it is no secret shoppers are probably throwing in a gift or two for themselves. more than half of holiday shoppers claim to spend a gift on themselves on average. according to a survey when it comes to these self gifting practices, men are the secret shoppers. men are 43% more likely than
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women to hide the gift to themselves. one heart 30% are likely to claim it is from somebody else and 118% more likely to create an emergency friend rather than on up to the purchase. connell: they don't want to admit they actually bought a gift for themselves. dagen: waited that long more come from? dagen: i don't know, my friend, phil, gave it to me. connell: this debate going on around the country about minimum wage again because of the fast food stories. dagen: the stock hits an all-time high, and shipping more packages today than ever in its history. every day we're working to be an even better company -
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>> 23 minutes past the hour, i'm lauren green with a fox news minutes. the second data recorder recovered from the scene of the deadly train derailment in new york city that killed four and injured more than 60. national transportation safety board space to conduct interviews today or tomorrow with the engineer and the conductor. readers of the house and senate intelligence committee said the terrorism threat against the united states is increasing and
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americans are not as safe as they were a year or two ago. diane feinstein said there are more terrorist groups than ever and mike rogers says that is putting more pressure on u.s. intelligence services. and lawyers for lindsay lohan reportedly are building a lawsuit against the lawmakers of the makers of the "grand theft auto: v" videogame. tmz is reporting actress believes her license was used without her permission. unclear o the image was intended to be the actress. those are your news headlines on the fox business network. now back to dagen and connell. poor lindsay. dagen: somebody with no acting career and too many lawyers on their hands. you have some money on your hands? charles payne following up on last week's recommendation of ebay. connell: all over this one. charles: we talked about it on wednesday because even coming in
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before the hype and the holiday stuff, november trends looking pretty good. 13%, 8%, 13%, and the last week in november 32%. today the wind in their sales, everybody saying online, online, ebay. a point you can still chase it. i listen to you about the cyber monday hype, it is more or less hype. dagen: it was created by the retailers, a day they could have something to talk about. charles: that is what you do. you say black friday, people say where will i spend my money. but we do, what we saw this weekend the clear winner was online, that is the moment, we will probably see. up a little bit more, i still think it is worth a shot.
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a forgotten name of all of these. near the all-time high, priceline and google. paypal is pretty good, making a whole lot of money. i got mixed reactions. i love the idea of it, i do believe somebody thought of it before, but there will come a point we will talk about this on the 1:00 special zones in our life called blue skies. that is the price of progress, i guess. connell: absolutely. charles: going currently work for them i thought was paypal. that would have been done. dagen: planning protests and strikes over minimum wages in america. connell: next debate coming up, and then there is fedex ramping
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connell: we are at the half hour, here's what's still coming up on "markets now" for you. steve moore weighing in on the minimum wage debate, the holiday rush, as you know, is underway, fed be exa big part of it, and investors are jumping into that stock today, so we have a report
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on that, and this crazy weekend of football making for big tv ratings and more on the gridiron drama, and there's plenty of it coming up in just a few minutes. dagen: just keeps getting better. disney's frozen, lions gate both broke box office records. hunger games came in number one, but they still topped the previous record setter over the thanksgiving weekend. nicole is at the new york stock exchange with more on these stocks. nicole? >> reporter: let's take a look at the stocks and talk about the movies. looking at both lions gate and disney, disney had the number two and three spots over the five days, right? lions gate right now up 2.7%. walt disney up almost 50 cents at $71, and both are real winners year to date. so the hunger games catching fire and also disney's frozen broke records, both surpassed what was raked in by harry potter and the sorer iser's
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stone. so this is the second week of catching fire, and it collected over $110 million. cumulatively over the two weeks together, nearly $300 million. and frozen also did particularly well. a lot of females in the audience because it does have female character protagonist, so that's something we watch as well, and thor took the third spot. back to you. connell: nicole, this thursday organizers of the movement, fast food workers are planning strikes in 100 cities, so steve moore joins us to talk about really one of the older economic debates. it's just new because it's happening this week with. you go back, i mean, it's one of the things i can remember from high school economics, should the minimum wage go up. and we know both sides, i think i even know where you stand on it, so let me ask, steve, this question: is there ever a scenario where it makes economic sense to raise the minimum wage,
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and if so, how would you figure that out? >> great to be with you, and i'm a little older than you are, and i remember the debate going back to high school as well. look, my view is i'm never more raising the minimum wage. i think the correct wage is zero. i think wages should be set by a worker and an employer deciding what a fair wage is. but when it comes to the economy, when the economy is growing, connell, and you've got a lot of demand for labor, then raising the minimum wage doesn't really hurt employment that much. you don't see a big increase in unemployment when the economy's expanding. the time not to raise the minimum wage is a time like now where you have a very tight labor market, where you have a lot of workers who can't find jobs. what you do when you raise the unemployment rate in that kind -- the minimum wage in that kind of situation is the evidence is pretty clear that it puts a lot of low-skilled workers out of work. especially, by the way, connell can, you raise that minimum wage to $15 an hour, you're going to put a lot of people out of work at that wage. >> well, that makes it a
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discussion about what the levels should be, but i asked that question on purpose to start it off which is should there even be a minimum wage, and you say, no. there are others economically who make that argument. but now that we're so far in, what do you think would happen if there was no minimum wage? the other side of it, from that other side politically or economically, they're going to say, boy, we need to have a living wage is the way it would be put where people, you know, can make a living, support their family and, you know, you can't pay them $5 an hour, you can't live on that. what do you say to that? >> sure. first of all, i'm for high wages. i want american workers to be well paid, well trained and skilled so that they can command the highest wage they can possibly get. that's the ticket to the middle class. connell: right. >> what i would argue is that when you raise the minimum wage, what you're doing is you're kind of sawing off the lowest ends of the economic ladder, and that makes it difficult for people to get the first job. if you don't get the first job, you can't get the second job that pays more and the third job. i think all of us, i don't know about you, but my first job was
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a minimum wage job, $2.35 to work at a warehouse. but, you know, you learn a lot, and i think it's probably pretty destructive to get rid of those jobs for the lowest -- connell: a lot of it -- >> by the way, mostly teenagers. connell: most of the time when we're in the high school or a little older, and then you move on from that. however, you do have a lot of people older than that trying to get by on this now. forget the argument about no minimum wage for a moment and let me end with the other side of it which is the amount. this is a strive to get to 15 from 7.25, more than double the minimum wage. is there a number that would make more sense where your side of the aisle or your side economically would say, all right, we can live with that, but doubling it's too much? >> here's the problem with a doubling of the minimum wage. by the way, i think that is a completely insane idea. i think you would potentially put hundreds of thousands of people overnight out of work. connell: right. >> if you go to fast food restaurants or the more casual
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restaurants, i've experienced this. i don't know about you guys. you notice how they're automating just about everything. you pour your own drink, you go to applebee's, you know, they give you an ipad now, and you order off the menu that way. so what these firms this these restaurant industries are doing and a lot of these minimum wage jobs are restaurant jobs, what they're doing is they're automating as a way to save on labor cost. if you raise the minimum wage to $15 an hour, everything's just going to become self-serve. you're going to have robots serving you or machines and computers doing it. so i think you put a lot of seem out of work. connell: or you'll order from amazon, and there'll be a drone that serves it to you. >> exactly. you see it every day. and the thing is, the you get rid of those jobs, connell, what happens to those workers? connell: right. >> the point i always make is a $7.50 an hour is better than no job. connell: than no job. steve, thanks. we're going to come back to this later in the week, but thanks a lot today and good to see you,
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thanks. >> you too. connell: all right. dagen: fedex says today will be the busiest shipping day this its history. again, not because of today, but because of the on line shopping that went on even before or thanksgiving, right? connell: well, that's why they call it cyber monday. we're all very excited about that. dagen: i was trying to avoid using that phrase because it was cooked up by the industry. connell: jo lean kent is at a shipping facility ear in the bronx. hey, yo. >> reporter: yeahs, it's the busiest shipping day in history for fedex. a little bit of news you may remember last night, amazon unveiled new drone technology, and we asked fedex what their reaction is, are they worried about their customers or their business down the line when maybe these drones start to fly, and they said in a statement to us: while we can't speculate on this particular technology, i can say that making every customer experience outstanding is our priority, and anything we do from a technology
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stand point will be be with that in mind. so interesting response from fedex. they don't sound terribly worried right now, but we are joined by a guest, gina martinez, senior operations manager here. i have to ask you, we saw thousands of packages flying. how many packages do you guys process here in the bronx? >> probably about 15,000 a day right now. probably will escalate as we go closer to christmas, probably just 15,000 on the a.m. once we get into the december 22nd, 23rd and 24th. >> reporter: so we're talking about the busiest time in fedex history. how have you guys been preparing here? >> we've been gearing up. we extended times, employees working extra hours, getting additional trucks. i mean, we're ready. we're ready for this. >> reporter: certainly a cyber monday that fedex welcomes a lot, and if you do the math, dagen and connell, 125 packages per second. that's how much fedex is
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processing today alone. so some astounding numbers on this cyber monday. back to you. dagen: thank you so much. connell: not afraid to say cyber monday. there you go, jo. hey, we're going to talk football coming up -- anything that makes you angry -- in just a moment. we'll talk pro football. there were some great games, a lot of drama, some officiating decisions and also the college games -- dagen: football makes me happy. particularly alabama losing, that makes me happier. [inaudible conversations] connell: patriots and all that. dagen: that's awesome. holiday price is a good indicator of where our economy is in terms of inflation, we shall see. connell: and here's our question, why are uggs a hot fashion item on the internet? dagen: i don't know. moving along. connell: just asking. ♪ ♪ ♪ [ bell rinng, applause ]
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♪ ♪ >> i'm adam shapiro with your fox business brief. u.s. manufacturing grew last month at the fastest pace since april 2011, that's according to the ism index. manufacturing rose in november to 57.3, up from from 56.4 in october to, ask the highest reading in two and a half years. dow chemical will sell most of its chlorine operations, its old business, as part of a plan to sell assets worth $3-$4 billion. dow is moving away from chemical
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production to focus on electronics, packaging and agricultural products. hilton worldwide has raised the size of its planned ipo. the hotel operator is expected to rice between $18 and $23 a share and raise $2.3 billion valuing the company at about $20.7 billion. they went private in 2007. that's the latest from the fox business network giving you the power to prosper.
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connell: all right. this'll be fun. it was a busy and pivotal weekend for football, pro and college. in the nfl, peyton manning sweeping the chiefs, the giants/redskins game which was kind of interesting -- dagen: and by the way, the guy on twitter who said the redskins suck? you know what? you can bite. connell: that's not in the script here. [laughter] dagen: you know what? well, peter's here, senior nfl writer at fox sports.com. he joins us now starting with --
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connell: an uncomfortable laugh but be then going to -- dagen: auburn's miracle. >> they had two in a row, they won two weeks ago. i don't know what they're calling this one, but that return of the kick to win the iron bowl, to win the sec west, to knock off undefeated number one alabama and to end aj mccarron'size match trophy hopes all in one play -- dagen: oh, god, it was great. [laughter] >> depends on if you're an alabama fan or not, but maybe the greatest moment of the season -- coell:ore an tt. i w a aubn a la ek ing on-eld rport-- coell:nd yoeft >> lft cov an n ge. i washere fomonda t fray, dasicly, this aceentbsolely bonrs. ey we pred a rea for this it w a gre win nnel allhestuf-- >> its, i's ght up there. connell: this is a business-type question, the last college question, then you can talk
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about the pros, what you cover. two basic business decisions coaches had to make, say ban decided -- saban decided to kick the field goal, and the michigan game where the coach had to go for two and the win versus play for overtime. what did you think of the odds that each coach played? >> the odds may have said, hey, maybe you're at home, go to overtime, but that was all gut and instinct, and i'm okay with the head coach of michigan going for two at the end of regulation. his team, the season -- they're not going to go anywhere -- they could knock off the ohio state buckeyes and do it in front of a national audience, go for it. connell: he probably thought he had better odds of doing that. >> they stopped ohio state the entire second half. connell: and saban in. >> i think you have to protect against that. i don't know how they weren't ready for that return. >> right. >> but i'm okay with going for the field goal. the numbers, probably less than 10% that they would not -- that they would even have a chance.
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dagen: i've got another -- [inaudible] [inaudible conversations] connell: another college question. dagen: quickly, how the bcs shapes out. >> ohio state has to beat michigan state in the big ten championship this weekend, auburn/alabama right thousand and that three, four fix, no sec which would be the first time if a long time. connell: four next year. like we said, we don't have a ton of time. what's your big nfl story? >> i think last thursday night mike tomlin, the head coach of the steelers on the sidelines almost knocking over jacoby jones. the nfl's meeting today and tomorrow, i think we will find out wednesday what the, what could happen to him. it could be a wide range of things. i think he'll get fined, but since there was no penalty on the play, i think they're going to take a ding as well. but we could be talking a loss of draft picks and even more extreme than that, maybe possibly a game suspension, but i think probably not.
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craig a craig and we find out today if aaron rodgers is coming back. >> he told someone at a game the l.a. i feel good, i'll be back. that means nothing. the packers medical staff is very conservative, we will see. dagen: happy birthday to him. turns 0 years old. -- 30 years old. he was on the birthday board today, wake up, brother. >> britney spears' birthday today as well. connell: you're full of information. dagen: you've got to come back more often. >> love it. dagen: okay. connell: we get all worked up about this stuff. dagen: we can talk about it all hour. so the financial times says stocks aren't cheap, but they aren't overextended. we're on the floor of the new york stock exchange, but we do have the vixx at roughly a one month high. is risk or fear of it back? >> well, there's always going to be the people that are going to try and time the market and time that 10-20% correction that everybody's been waiting for throughout 2013, but every time they've tried, they've just
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gotten their faces ripped off with any short positions that they may have put on there. so i think the financial times actually has it right right here. if you look at a lot of the metrics, it's not overrxtended. some of the work we look at on a short-term basis, it's certainly not overbought, and some of the other metrics you look at, it is a little expensive on already reported earnings, it's getting up there. but, again, the main factor in 2013 and going into 2014 is as long as you have central banks supporting this market and thereby supporting the economy in whatever way, shape or form you have, there's no reason for stocks to go down. dagen: stay in bed with the fed. keith, good to see you. keith bliss, we'll see you soon. connell: more markets coming up here. it's been a rough year for the gold bugs, sandra smith looks ahead to 2014 for us in just a minute. dagen: and uggs, yeah, the most sought-after fashion item in web searches. not joking. ♪ ♪ every day we're working to be an even better company -
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and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. i need a newn't investment pn. i need to rethink the core of my portfolio. ishares core etfs are low-cost funds. so you can keep more of what you earn. get started with the new ishares core builder. design a personalized plan that can help you achieve your investment goals. ishares by blackrock. call 1-800-ishares for a prospectus, which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal.
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dagen: gold continuing its worst monthy performance since june, and it's just one of 16 commodities setting up this year for big losses. connell: sandra schmitt as has all that -- smith has all that covered in the trade today. >> reporter: hey, gold prices down $23. we're now looking at $1,227 a troy ounce. silver prices also down, basically good economic news which we got on the housing market today, that translates to the fed may begin to taper this month. if we get that, we get a stronger dollar and weaker precious metal prices, so that's certainly the trade today. you'll see that silver on a percentage basis continued to do even worse than gold. gold for november, by the way,
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worst monthly performance since june, but it's been a bad year for gold, guys. for those keeping track, gold lost another 5.3% in the month of november. on pace for its first annual drop in 13 years. typically, we see gold be higher. not the case this year. gold prices down 27% year to date, and it's not just gold that is suffering these bear market losses. it's not alone. corn rices down 42% so far for 2013. silver down 36%, outpacing the losses that gold has suffered so far. coffee down 4% and -- 24% and wheat prices, guys, while not in a bear market, down 17% because of a bumper crop, obviously, that the united states has been reporting. several of the commodities are expected to lose ground, guys, as we enter into the rest of the year. guess what? december, 55% of the time it's a negative month for commodities, and in those years looking back about 100 years, guys, in the
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years where we're negative as a group of commodities are negative going into december, they tend to see exacerbated losses. so, dagen and connell, jeff curry over at goldman sachs last week calling for significant the losses for commodities across the board. it's shaping up to look like that may be the story as we head into the final trading days of the year. connell: sandra smith, thank you very much. and it must be that time of year when we have pnc wealth management out with his 30th annual christmas price index. this is where they do the work for us and figure out what all 364 mentioned in the 12 days of christmas song would set you back were you to go out and actually buy them, and it's around $114,000 this year. 6.9% jump from last year. you go out and buy a leaping lord or whatever. online shopping, if you go to buy your lord online, you can expect to pay more, they'll drop about $173,000. and this christmas price index outpacing the government's
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consumer price index which, i guess, is all the point of doing that, cpi remains stag in a minute, around 31%. and the ladies -- 1%. and the ladies dancing got more expensive. dagen: right. lords a leaping and -- what kind of dancing is that? connell: i don't know. thanks for asking though. dagen: does can it involve champagne deals and caviar dreams? [laughter] laugh while calling uggs fashionable is questionable, more than a quarter of american women admitted to owning a pair of uggs. connell: what about hen? dagen: no man in his right mind -- congress connell false. i know one that was wearing them this morning. top imus and tom brady. dagen: yeah. but tom brady gets paid to wear them, the i-man, that's a choice.
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connell: brady's just so confident he can go around doing ugg stuff. dagen: when you've got a face that looks that good, it doesn't matter what's on your feet. i wanted to see tom brady's head the size of like a volkswagen. connell: thanks for joining us today. we really, really, really appreciate it on cyber monday. dagen: well, let's talk about online shopping. amazon and jeff bezos. connell: give us some drones. fly away. and then the craze over the bitcoin currency has some calling for an actual coin that you can hold, maybe get it delivered with the journal, whatever. so cheryl and dennis will pick that up next on "markets now." ♪ ♪ , hey breathg's hard. know the feeling? copd includes emphysema and chronic bronchitis. spiriva is a once-daily inhaled copd maintenance treatment that helps open my obstructed airways for a full 24 hours.
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these are effectively drones, but there's no reason they can't be used as a delivery vehicle. cheryl: the king of online retail has his eyes on the skies. i'm cheryl casone to take you through the next hour of "markets now." jeff baez sews telling "60 minutes" his company is working on drones that bring packages to your doorstep. the idea a lot closer to reality than you may think. amazon will certainly have plenty to deliver, over 130 million people expected to shop online this cyber monday, but they are expected to spend a lot less. and a major online player could soon be going offline. why bitcoin could go from digital to the palm of your hand. all this and more in the next hour of "markets now." ♪ ♪ dennis: and congratulations to cheryl for cooking her first major turkey over the thanksgiving holiday. [laughter] a huge hit. cheryl: nobody was poisoned at my home on thanksgiving day, and that is a victory.
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[laughter] how was your holiday, dennis? dennis: it was wonderful. and i feel like despite that disappointing retail number, we'll make it up. you just watch. cheryl: you are very bullish. dennis: top of the hour, stocks now and every 15 minutes,ny pole pole -- nicole petallides, and stocks up three straight months here, but they're wavering this morning. i ain't afraid. >> reporter: just like our camera, but you found we right here on wall street where i'm always standing, keeping a close eye on the dow, the nasdaq and the s&p. mixed market here so far. cob congratulate lakeses to cheryl for taking that turkey, never made one, only ate them. but right now the dow and the nasdaq are to the downside, the s&p 500 with a gain of one-tenth of 1%. all three of the major averages not too far up the up changed line, but you've had three straight months of gains, eight straight weeks of gains, the dow jones and the s&p 500 it's up almost 27% this year for 2013, so, obviously, that's on track for the best annual percentage
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gain since 9-- 1997. but the vixx, the fear index, up arrows. it's been creeping just a little bit higher, but it depends who you talk to. some people say, hey, you made over to 20,30% on your money, and others say, listen, this rally just won't quit. back to you. dennis: thanks very much, nicole. cheryl: it is time for our monday panel. first up on the agenda, market bubble sirens going off. this time from a very credible source. robert shiller, winner of the 2013 nobel prize for economics, says that u.s. equity markets are overvalued, and he's warning of a potential stock market bubble. let's take this to the monday gang. sandra smith is joining us from the cme, adam shapiro along with simon constable. dennis, you're one of the most bullish people that i know, but does he have a point, do you think? dennis: you know what? every time stocks go up to a new
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record, and you see the s&p 500 up 27%, and you worry, yes, there's a big bubble. robert shiller got his nobel prize for his expertise in home prices. i didn't hear him calling the huge bubble burst there. i think that the stocks, while they're high, we are on the brink of far better shape than we were when stocks were at a high in october '07, cheryl. cheryl: and to dennis' point, he did bring up the fact that brazil's real estate market is showing signs of bubble territory which is what got us in trouble. >> right. he actually said brazil, what's going on there reminds him of 2004. but remember, when he's talking about a potential stock market bubble, he's not saying we're there yet. he said we're heading in that direction. he uses his own index, essentially, which is -- it smooths out for volatility, and it includes -- it's not just price earnings, he's looking at the actual earnings for the s&p 500. and it's at a level that's starting to get elevated. it's not at bubble territory yet, but we're head anything that direction. cheryl: the economy can't keep
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up with asset prices, but he got more specific, simon. he mentioned technology, he mentioned financial. these are two of the hottest sectors of '12 and '13. >> why is that any surprise? we have interest rates at near zero. wouldn't you expect a bubble for an extended period of time? things are just going to slide into whatever's the best thing, and we're seeing the momentum go up. so i'm not surprised he's saying this. the only question is, is will it go up more? and it could. dennis: talking heads on television have a bias to the downside. no one -- you get in trouble with your clients when you tell them to buy something because it's going to go up and then it goes down. so when you warn, careful, there could be a double, then you look like a genius. cheryl: not sure what talking heads you're talking about -- [laughter] sandra, to dennis' point be, certainly, there's a lot of, you know, there's fear, of course, when the taper does begin that the asset bubbles are all going to pop and this is all going go
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to the downside, but most banks coming out for 2014 saying equity markets are going to at least be up 8, 9%. maybe they've got a better point than shiller goes. >> you've gone from an economist to analysts, two groups of people that have no skin in the game. and that, of course, is what people in the trading community have problems with robert shiller, saying we might be seeing a bubble. we're talking about robert shiller saying that he's seen signs of a bubble. he has not even gone out on a limb and called this a bubble. the only credit i will give him is he's raising the best point of all right now, and that is what a bubble is, and that's when the price of these assets rises to a point that is not based on the underlying fundamentals of the market. he's saying that the economy in the u.s. is still weak and perhaps these asset prices are not rendered by the economy that we're still looking at today, and i think that's a valid point to be making as an economist today. dennis: let's remember the last
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time there was this big bubble, we had pets.com trading for 100 times revenue because it sold pet food online. this time around facebook earns a billion dollars a year. is there nip here on this panel -- anyone here on this panel who could tell me what event would happen that would make this almost bubble burst? go ahead. >> i would go with high interest rates. it's just the way things are valued. you increase the interest rate, the cash flows are worth less. that's the nature of it. >> give you a real world event. consumers are not spending the money they need to spend. we saw it in the last earnings report, dennis. they head their earnings, but on revenue -- dennis: that's not going to cause a big collapse. yeah, if something went wild -- >> unfortunately, dennis -- cheryl: go ahead, sandra. >> unfortunately, it's going to be good news that's going to lead to the selloff in the stock market. it's going to be great employment numbers, added jobs in this country is why we're all of a sudden going to see a stock market -- cheryl: okay. i've got to get to this next story because it really is the story everyone is talking about
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today. amazon's ceo jeff pez so unveiling new drone technology on "60 minutes" that he hopes will revolutionize the way amazon delivers products. i don't know, adam, could this be a safety hazard? >> well, it is -- we can talk about the safety issues, we'll let the faa deal with that by 2015. it's a great idea. it's absolutely going to happen, but it doesn't make things cheaper for amazon was they're incredibly efficient by having the fulfillment centers and then using ups or fedex to deliver. if they're going to have 30 minute delivery, you're going to have to have, essentially, inventory within 30 minute deliver, so that becomes expensive. dennis: got to disagree with adam. of course, this would save money. a cable company spends $the 200, when you can send a little helicopter thing to deliver it, this will never happen. this is the perfect example of
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tech guys where they think oi doing something because they can, the faa will never appear it. we just had one of these drones lop off the head of some unfortunate perp. it'll never happen for years. ten years, the faa will go crazy. cheryl: sandra? >> well, one little statistic, this isn't like you can all of a sudden say i want a new sofa in my living room -- [laughter] they'll only be able to do this for anything that weighs less than five pounds, he has said -- dennis: 86% of amazon orders. >> it is, but, you know, guys, this is his job, to look forward and to revolutionize his company. five years sounds a little optimistic. >> i think particularly -- [inaudible] this could with a disaster. they could be intercepted, seem could -- [laughter] butterfly net, steal the stuff. who are they going to deliver it to? are you going to drop it on the sidewalk in the city? [laughter]
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shotgun and shoot it down? dennis: it is great, right? >> be careful. [laughter] you don't want them playing this clip of you, simon, laughing at you five years from now when you're getting your fedex on your doorstep by drones. dennis: i'd be willing to bet you guys $1,000 -- >> what could seriously happen is a takeoff point in new jersey bypassing the bridges and tunnels to a landing point on the hudson river this manhattan, so there are ways to do in this new york city. cheryl: so we could say, in all seriousnd, congress did tell the faa last year, actually, to try and come up with regulations for drone technology. i mean, this actually was talked about last year. dennis: let's remember that, yeah, a drone could beat the traffic and skip that tunnel, but it's delivering one little box at a time, and trucks deliver -- >> well, what bezos said was the five pound or less package, but ups is looking, actually, at
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drones of much larger scale just to cross the river to a central distribution point in manhattan. cheryl: sandra was ahead of it talking about the bigger drones. all right, last topic, guys, bitcoin. it eclipses the $1,000 mark, and now the british channel island is in talks with the royal mint to actually produce physical coins. so is this further proof that bitcoin is actually going to stick around? it has plenty of detractors, but does it hurt their arguments when you've got an actual country, an island anyway? >> it's a small island, but they're talking about making a collectible, okay? they're not talking about making money, and it won't be money because it's not a unit of account. nobody stacks up their wealth and says i've got this many bitcoins. who prices in bitcoins? they price in dollars or pounds or whatever. cheryl: stuart varney made a great point, he said, wait, i'm going to give you dollars and you're going to give me that coin? i don't think so. >> it makes no sense.
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bitcoin's whole process is that it's not a unit of currency this the way that you look at the dollar. cheryl: dennis, you've not been a big fan. dennis: it's fascinating and we're obsessed with it, but it's really stupid. there's the bubble, guys. it ain't in stocks, it's in the freaking bitcoin. it's something that opportunity exist, and it's just -- something that doesn't exist, and it's just weird. cheryl: i talked to a couple who traveled the wor on bcoin it w foodhey hrobm wi. staunts d n cluwhat theye dog t. >> ye. yo kno i thk theecon th th airm of e feral rerve,en bernke, menoned tcoi evy ursd, hm i beer tehis aittlore seousl tcoi the lstrice was ove theicefodas oue of go. the's lotf ta abo a buet,ut ohin kep i th dnig,we don -- md,
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dot kow wt srt of regutions gng t hit, and that's a major level of uncertainty for somebody who wants to own bitcoins rather than u.s. dollars. cheryl: sandra smith, adam, simon, guys, thank you so much. good to have you. woke us up out of our you are the can key coma. dennis: and health insurers say it's a bit early to declare mission englished. cheryl: and why starbucks is just now opening up to the idea of franchising in europe. yeah, finally, right? as we go to break, though, want to take a look at the energy markets, and there you go, crude in that range of 93.5. brent and arbob. be right back. ♪ ♪ hi honey, did you get e toaster cozy?
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that helps maintain digestive balance. ♪ stay in the groove with align. ♪ ♪ cheryl: a couple of stocks to watch today, goldman sachs in the green, that is taking the
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dow higher, but we just went into the negative, never mind. i take what i just said back. take a look at a couple of names, you're going to want t to watch this investment bank. there's a lot of concern about m&a slowing down, that could be be bad for goldman sachs or a morgan stanley. we are down two and a half points right now, but i'm also watching a lot of the retail names, and i do want to show you that sector quickly if we can because it's all about cyber monday which is today and, of course, you had the big selling frenzy happening over the weekend, even some crimes committed during black friday. [laughter] there you go, ther major names. kind of a mixed bag. you're going to have to watch these stocks. let's bring in nicole petallides from the floor of the new york stock exchange. i was just looking at goldman sachs, the bank itself though is cutting its ratings on some big names that you're watching. >> that's right. some of these key names that we follow so closely, basically saying these stocks, obviously, have had the premium valuation and have run up exponentially this year, and so goldman sachs
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this morning down grading group op -- groupon, zillow and as a result on the day where the market's flat, these stocks are moving to the downside. groupon's down almost 5%, zillow 5.5% and 3% for orbitz worldwide. just a couple of quick thoughts, groupon as they cut back to neutral, they continue to believe the opportunity is in local there, so that is good news there, but again, valuation calls. groupon's up 77% this year. how about orbitz worldwide, 150%, zillow up 168%. i mean, come on. those are great, great performances and basically now goldman's saying, look, the valuation is run up, and that's enough with the premium val weighs, take some money off the table. cheryl: nicole, thank you so much. appreciate it. >> thanks. dennis: starbucks is brewing up a new strategy if europe. the premium coffee giant has had
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a tough time over there, so it's been expanding loyalty programs, opening stores in blue collar areas, and now "the wall street journal" reporting that starbucks is turning to franchising. it's long avoided letting independent owners saying it wants full control over its brand, but it's starting to see the strategy as a way of getting into some overseas markets. of 200 stores it has plans to open in europe, the middle east and africa, 75% will be with franchise sees or lie ensees. down the teensiest bit. cheryl: well, fedex -- another name to watch during the month of december -- ramping up for the holiday rush. that's helping the stock become one of the day's high fliers, actually. of. dennis: ask more shoppers but spending less money. here's how the world's currencies, meantime, are faring against the u.s. dollar. no bitcoin listed. ♪ there are mush muck. ♪ ♪ ♪ every day we're working to be an even better company -
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and to keep our commitments. and we've made a big commitment to america. bp supports nearly 250,000 jobs here. through all of our energy operations, we invest more in the u.s. than any other place in the world. in fact, we've invested over $55 billion here in the last five years - making bp america's largest energy investor. our commitment has never been stronger.
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>> 22 minutes past the hour, i'm lauren green with your fox news
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minute. leaders of the intelligence committee say the terrorism threat against the u.s. is increasing and that americans are not as safe as they were a year or two ago. senator dianne feinstein told cnn there are more terrooist groups than ever. congressman mike rogers says that's putting more pressure on u.s. intelligence services. thousands of ukrainian protesters are calling for the ouster of the president and his cabinet. the demonstration stems from anger at the president's decision to ditch a deal with the european union in favor of a closer tie with moscow. and a second data recorder has been recovered from the scene of yesterday's deadly train derailment in new york city that killed four and injured more than 60. the national transportation safety board or expects to conduct interviews today or tomorrow with the engineer and conductor. and those are your news headlines on the fox business network. i'm lauren green, now back to dennis. dennis: thanks very much, lauren. and fedex expects this cyber monday to be the busiest
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shipping day in its history. joling kent is following the action in the broption. jo? -- in the bronx. >> reporter: hey, dennis. we're expecting 22 million packages to be shipped, and among those packages thousands of them will be shipped from here. the fedex regional shipping facility in the bronx. take a look, we're actually at the loading dock right now. thousands of packages have come out of this particular loading dock this morning. they're being distributed all across the five borrows here in -- boroughs here in new york. the busiest day in for fedex history. 130 million shoppers snapping up good deals online today, an 11% uptick. these semi trucks are getting ready to go out, again, forrwhat is probably going to be the busiest shopping day in history for fedex. now, we talked to a worker who's been driving trucks for 17 years, asked imhow his busy -- him how his busy cyber monday is going to go.
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>> thanks to the internet, it's a beautiful thing. i'm excited to get started. today's the first day we're getting going so, yeah, it's going to be fun. >> how many packages on average do you deliver during this season? >> myself just my truck? we do over 100 stops, you know? we get 200 packages in each truck, and it's just me by myself, but it gets done. you know, we're out there just having fun and just working, you know? so it's great, it's great time. >> reporter: now, fedex actually had some reaction to the amazon drone technology that was revealed yesterday, and this is what they had to say on that. they don't seem to be terribly concerned about their business being threatened. they say while we can't speculate about this particular technology, i can say that making every customer experience outstanding is our priority, and anything we do there a technology standpoint will be with that in mind. so fedex reacting to amazon's new drone technology there making a bit of news this afternoon. send it back to you guys. dennis: yeah. the fedex guy just droning
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on there. thanks very much. cheryl: lindsay lohan reportedly claiming her likeness was used in grand theft auto v, but we think it's another hollywood starlet that should be crying foul over this one. dennis: and move over kim kardashian, there's a new queen bee when it comes to online searches as we head to break. meanwhile, let's take a look at some of today's s&p winners and losers. ♪ ♪ (announcer) at scottrade, our clients trade and invest exactly how they want.
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♪ dennis: coming up this half-hour, disney's frozen and line date the hundred in setting fire catching thanksgiving records. when more is less that seems to be the story for this holiday season with the crowds bigger, the pockets steeper the reid and queen bee, beyonce now queen of web searches according to one on-line search firm. stocks every 15 minutes byblos to the floor of the nyse-listed read what is moving. >> reporter: a lot moving on maastricht and that the major averages such as gains month after month, but we are taking a look at some movers. let's get often talk about open table and went in the spirit we told you about goldman cutting gains by groupon. they also cut open table. evaluation call. web in the, they think there is fraud potential, putting that in neutral. within the up almost 5 percent
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selling for the holiday, your package is being delivered whatever it is. but the stock is at a new high. u.s. banks. city has been a laggard of the major financial institutions of the last five years. despite a very strong performance in the current year. the fact is it is the letter.
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it trades at a discount to its peer group. cheryl: of 53, 56%. you compare that to bank of america, that comparison. they're pretty m cheryl: not a bonus. of flashy ceo. >> something is said right now for the acquired storm. he is managing its business,
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showing a complex organization large city can be managed effectively. to a certain extent the article points that it may be the sign of an heir apparent test jamie. it does not need to be as flashy. cheryl: just make some money. >> i am with you on that. here is another one that you are watching. three picks, but amazon hit a new high today. the question becomes, is this the peak friend in like amazon? >> this was not about the drums. apologize. it is about the tailwinds for this company, just amazing. continuing to expand. the dominant player. we also like besides having a bull on quarter of sales, the same-store sales while globally about 7% in the u.s. 8%, that trickles down into the margins improving operating margins based on same-store sales. we also like the prime, earning about a billion dollars of revenues from prime members to spend two times what non prime
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does. cheryl: what if you compare, and you have to do this, what if you compared an amazon and you actually compare it to a name like walmart. kind of the same price point did you think about it. a lot of the cheaper stuff you see on amazon the confines of walmart store. would you still pick amazon over walmart? >> we will liking it. large gaps over small caps. nothing against walmart and about we were kind of looking at amazon insane to shift into on-line on a global basis to more online retailing. we think amazon will be the beneficiary. cheryl: and might have answered my own question. he looked at the performance, and looks a lot better. and you also like home depot. i want to stay home depot, it is only about 8 percent over the last three months and i wass ifg that you are a little concerned about. that is tied to the fact that the housing market has begun to slow down. >> well, some of the bias. housing has been a bright spot of the u.s. economy. deferred project, deferred
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maintenance and reelected tailwind. these people will be sending money making these improvements. we think they are the dominant player in aerospace. we did like large gaps in part. we think these companies have benefited from the intraday policy coming improving the balance sheet and will be able to carry the debt and we think it will play out be. cheryl: i want to let hear your opinion. the market's overall, looking at the dow, above 16,000, several records ever the last week. but schiller came out and said he is concerned about a bubble. we were talking about it earlier. is that a concern? are your clients calling and saying they are nervous about the market getting to ahead of itself? >> certainly any time someone is calling for above all you have to take notice. they tend to get called prematurely. and in this case it is a premature call. december, they're not going to go taking a profit. december is a good month for the dow.
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the best month, second best for the s&p, and i don't think this is a time to be booking profit. given where rates are we still think equities and the risk on trade makes the most sense. cheryl: okay. pretty much everyone agrees with you. i have to say. >> that means i'm in trouble. [laughter] cheryl: it is good to see you. great job on the radar. at the we had done this before. for. >> my first time. dennis, over to you. dennis: among the media minute, frozen fire. testing fire. more than 200 million combined. u.s. dealers over the holiday weekend. both, -- tells breaking the record of three and five day thanksgiving roses. the hundred and sequel took in more than 110 million its second weekend out. now half a billion worldwide. frozen ice and 93 million, far better than the 80 million that was expected. and now hollywood is 2/5 of the way there as it tries to read
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half a billion dollars in the last weeks of the year to set an all-time box office record beating the 102 billion set in 2011. and lindsay lohan is said to be circling her lawyers and threatening to sue the maker of grand theft of five. she maintains the game has a character based on her. look at the woman in the video game. you are no kate upton. to us the video game tart ought to trigger a lawsuit from kate upton's lawyers. never mind that in the game the character does sing at at the chateau mall as does lindsay. cheryl: missing the mark on that one. according to the picture. all right. let's try this again. another rollout of health care. but is the relaunch any different than what we have seen so far? we hope not. we will find out. dennis: it is our birthday. as the launch grows closer, and britney celebrate by selling out her vegas shows? and that is directly linked to
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dow chemical's weighing its options. the chlorine opulent -- operations. part of a plan to sell. three to $4 billion. moving away from chemical production to focus on electronics, packaging, and agricultural products. u.s. manufacturing grew at the fastest pace since april of 200011. according to the ism iidex manufacturing rose in november to 573, actually up from 564 in october. and the highest reading in two and a half years. any number above 50 indicates growth. coming up in a fox business exclusive, former fdic chair with a win-win strategy for banks. she shared her plant in the next hour right here on fox business. that is the latest from the fox business network, giving you the power to prosper. ♪ tdd#: 1-888-852-2134 there e trading portunities tdd#: 1-888-852-2134 just waiting to be found. tdd#: 1-888-852-2134 at schwab, we're here to help tdd#: 1-888-852-2134 bring what inspires you tdd#: 1-888-852-2134 out there... in here. tdd#: 1-888-852-2134 out there, tdd#: 1-888-2-2134 there are stocks on the move. tdd#: 1-888-852-2134 in here, streetsmart edge has
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crashes and which is the obama administration says the site canal and up to 50,000 visitors at a time. critics, including some help insurance companies are not giving it a clean bill of health just yet. for more, let's bring in government technology expert, technical editor of the new book investigating internet crimes, the introduction to solving crimes in cyberspace. congratulations on the buck. good to have you on this topic because it seems that the back end of this site is not working. now there are reports that insurance companies and even some states are looking to hire outside firms to manage the connectivity. is that where this is going? >> it is highly possible. the connective he seems to be working. people can get to health care. the delivery has not been a problem. it is once you get there. the war that happens once you get inside the system, to really main issues going on right now. the first one is the government has been talking about fixing the confidentiality integrity
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and availability of the site. so far the only really address the availability. that does not take into account the confidentiality of the integrity. we still have issues. we have allowed the politics to drive the technology in the first place. we saw how that worked out. unfortunately that seems to be happening again. we have got a technical update report which really looks to me much more like a political speech and -- speaking points documented technical delivery document. cheryl: i want to read you a quote here. this is the president and ceo of america's health care plan speaking to the new york times. insurers lori repairs a back end systems which is supposed to deliver consumer information to insurers are still not completed until this process is done insurance companies will not be able to enroll. less than one month from the deadline. december 31st. we have to have a backup plan, even if it is a phone call from a consumer to the insurance
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company themselves. this website seems to be a true failure from several perspectives. >> the biggest failure that we have is that at a time when transparency is the thing that would get people to calm down and to instill faith back in the system, what we are not getting is that transparency. instead we are getting is answers that really don't tell us enough to be able to assess whether this back in system seven looked at. the harvested in permission back up to the insurance companies. we still really don't know the status of that. the same time we are hearing statistics that are designed to make us feel better that really don't mean much. for example, and the report that came out yesterday you mentioned that they had worked on 400 different bug fixes. they did not tell you what the total number of bugs there were. we don't know if it's good or bad. cheryl: there is also another statement.
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i want to get your reaction. this is what the government said. they said we have a dedicated team focused on site monitoring and instant incident response. do you buy that? >> i do. the team that is in error in d.c. is very, very good right now. the problem i have is we still don't know what kind of incidence they're looking at. availability, security, somebody with a fair bit of incident response room from as cyber security standpoint, i can tell you that these are things that you cannot just react to instantly. when you find a system that has had multiple problems from everything from authentication to delivery to availability ec them all turn red. that is not an instant response. cheryl: another thing now was pointed out. you can't even verify the legal status. a resident of the united states are not.
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so many issues. always great to talk to you, especially about the website. thank you so much. >> thank you for having me. dennis: shopping more misspending last. a record 141 million people shop in stores or on line over the thanksgiving weekend. big discounts led to a decline in dollars spent for the first time in seven years. cyber monday is upon us and they could break-in close to a record-breaking 2 billion on this one day. joining me now, adviser and ceo, thank you for being with us. what do you think overall for the numbers on the weekend? did retailers' kind of steel from future sales by opening up early on banks in? >> hello and happy cyber monday. the data we track, we are a software company, and retailers use are suffering and manage e commerce sites. and over the weekend starting on thanksgiving we saw a pretty substantial spike of about 30%
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year-over-year growth. black friday was around that same range. we could cool down as consumers wait for the cyber monday deals coming up today. cheryl: the national retail federation says that while sales overall drop, comes courses that online sales for thanksgiving weekend were up 17%. how worried are you about an overall two have% decline in spending? did that reflect the people are buying stuff on the jeep such that they got more things but spend fewer dollars? >> i think what we are seeing is an acceleration of the trend of people coming on line and the fact that you see these numbers starting to separate where on-line is starting to grow much faster than offline and take shares just speaks to the convenience. easier to order online and fighting traffic. you can find a better deal versus having to go to three or formals and one not. i think consumers are shopping online right now. dennis: i see that amazon, the number one on liner for the thanksgiving weekend we just finished, but walmart was number
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two, even bigger than the bay. it is a brick and mortar retailers. are they doing something right? >> a lot of these guys have spend it -- been so focused on thanksgiving and their brick and mortar sales that they have not done much historically. this year they have been paralleled an offline and online promotions. offering as if not more compelling offers and are stepping up their game to compete with more of the pure plays like ebay or amazon. dennis: the national retail federation said 43 percent of all purchases were down on line over the weekend. meanwhile, it turns out that you say 40 percent of online purchases are down on mobile, smart phones instead of sitting home on the laptop. tell us about that. 16 percent of all sales now are mobile. >> very interesting. last year we saw the peak mobile there was thanksgiving. about 38%. this year we have been hovering a 40%. we are seeing it is pretty cool
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between smart phone and tablet. consumers are definitely researching and buying on these devices. gives them the ability. they don't have to interrupt what they're doing. watching tv, may be watching the big game. they could be shopping online. so it increases usage and is one of the drivers bringing more people on line. dennis: is surprises me that the tabloids don't have a far bigger share of the shopping. amazon is willing to sell the kindle fire at a loss because it is betting that you will use that thing to then do all kinds of purchases. surprise that smart phones are still half of that mobile purchase share. thank you for being with us today. >> the key for having me and happy summer monday. blue cross blue shield of arizona will automatically renew plans for customers canceled under obamacare. after an internal review the insurer realized it would be easier and more effective to let the plant stand. blue cross expects to notify about 55,000 arizona customers this week about their decision.
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unemployment is jumping in alaska up just in time for the holidays and some parts of alaska the jobless rate is about to%. statewide the rate is now at just over 6 percent, up from five and a half% just last month and britney spier's is on schedule to launch surveys show at the end of this month. according to caesars palace, part of the deal, the $500 packages are sold out and the meat and greece are selling for $20,500. those are sold out as well. by the way, happens to be her second birthday. hopefully should in turn 300 grand that she is getting paid per show. that is our west coast minute. dennis: a new crowning achievement for beyonce a. her latest title landing the diva she stole from. cheryl: has begun to break will take a look at some of the winning names on the nasdaq. as you can see, worried about technology. these are your tech names. ♪
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seen. cheryl: known to her fans. queen of on-line searches. topping the search is and is stealing the crown from reality star ken kardashian. dominating the rest of the top search is. rounding out the rest of the top five. the royal birth for most
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searched news story. an netflix for most searched streaming sites. dennis: according to pnc wealth management 30th annual price index of 364 gives mentioned in the 12 days of christmas will set you back $114,000 this year up 69% from last year. online shoppers oddly can expect to pay even more. badger and shipping. there will drop $1,703,000 to get all those purchases online. christmas price index outpaced that consumer index which remains rather stagnant. cheryl: you are saying that this is expensive to ship large a leaping. dennis: far more than ladies grand -- ladies dancing. cheryl: otherwise known as human trafficking. dennis: insurers say that there are still significant issues. next hour a man who has done
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this before. the head of the massachusetts health exchange joins ataman lloyd. cheryl: letting social media. is it all just a marketing coup? the stock is doing amazing right now. whether it is worth the money to buy the stock is another story. ♪ hi honey, did you get e toaster cozy?
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in the last five years - making bp america's largest energy investor. our commitment has never been stronger. well, did you know that just one sheet of bounce outdoor fresh gives you more freshness than two sheets of the leading national store brand? who knew? so, how do you get your bounce? with more freshness in a single sheet. so, how do you get your bounce? so i can reach ally bank 24/7, but there ar24/7.branches?
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i'm sorry, i'm just really reluctant to try new things. really? what's wrong with trying new things? look! mommy's new vacuum! (cat screech) you feel that in your muscles? i do... drink water. it's a long story. well, not having branches let's us give you great rates and service. i'd like that. a new way to bank. a better way to save. ally bank. your money needs an ally. ashley: i'm adam shapiro. lori: i'm lori rothman. a delivery method of the future. is it all just a clever marketing ploy on the cyber monday? adam: missing the boat. the business opportunity as cash strapped americans struggle living paycheck to paycheck. it is an interview you will only see here.
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lori: not so fast. the obama administration touts dramatic progress. is the latest fix too little too late? lessons this hour. adam: and it is the ultimate symbol of success in the auto industry. we will introduce you to the man who created it. his prestigious award hair and the future he goes by dave. lori: a busy hour ahead. let's get things started. kicking off a newmont. 2%. some fall since december. this december we're off to a bit of a slower start. >> seeing the market not too far of

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